ABOITIZ Power Corporation’s (AboitizPower) to acquire indirect partnership interests in GNPower Mariveles Coal Plant Ltd. Co. (GMCP) and GNPower Dinginin Ltd. Co. (GNPD) for an estimated $1.2 billion has been cleared by government regulators, the company said on Tuesday.
AboitizPower said that the bid by its wholly owned subsidiary Therma Power, Inc. (TPI) to acquire indirect interests in GMCP and GNPD was approved by the Board of Investments (BOI) and the Philippine Competition Commission (PCC) last November 21 and December 19, respectively.
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